Olympic Industries, a food and allied sector company, has decided to set-up a new line for producing new premium varieties of cookies, said a disclosure posted on the Dhaka Stock Exchange (DSE) website Wednesday.
"The board of directors of the company has decided to import a new cookies line, complete with ancillary and packing machinery, from Italy and India," stated the disclosure.
The Board has decided to set-up the line at an estimated cost of Tk 133 million to be jointly funded with cash and bank financing, to produce new premium varieties of cookies, it added.
The new line will have an estimated annual production capacity of 7,200 tonnes, said the company in the disclosure.
Olympic Industries was listed on the Dhaka bourse in 1989. The food and allied sector company belongs to the "A" category.
The company has reported un-audited third quarter (Q3) earning per share (EPS) of Tk 2.27 for January-March, 2016 as against Tk 1.35 for January-March, 2015.
In nine months (July'15 to March'16), EPS was Tk 6.26 as against Tk 3.90 for the period last year.
The sponsor-directors own 31.51 per cent stake in the company, while institutional investors own 20.49 per cent, foreign investors 36.13 per cent and general public 11.87 per cent as on March 30, 2016.
The company's paid-up capital is Tk 1,904.18 million and authorised capital is Tk 2,000 million, while total number of securities is 190,417,987, according to statistics from the DSE.
The company's total market capitalisation stood at Tk 57,677.61 million as on Wednesday.
The company's share price rose Tk 9.10 or 3.0 per cent to close at Tk 310.60 each Wednesday, over the previous session.
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Source: The Financial Express